Entropy Technologies LP Increases Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Entropy Technologies LP grew its position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 434.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,677 shares of the data storage provider's stock after purchasing an additional 33,060 shares during the quarter. Entropy Technologies LP's holdings in Seagate Technology were worth $3,511,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in Seagate Technology in the 3rd quarter valued at $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Seagate Technology by 341.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider's stock valued at $143,370,000 after buying an additional 1,012,638 shares during the period. State Street Corp raised its stake in shares of Seagate Technology by 6.8% during the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider's stock valued at $937,081,000 after acquiring an additional 541,585 shares during the last quarter. Franklin Resources Inc. raised its position in Seagate Technology by 29.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider's stock worth $197,844,000 after purchasing an additional 405,232 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Seagate Technology by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider's stock worth $454,477,000 after acquiring an additional 318,416 shares during the period. Institutional investors own 92.87% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on STX. Rosenblatt Securities raised their price target on shares of Seagate Technology from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Bank of America lifted their price objective on Seagate Technology from $124.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group lowered their target price on Seagate Technology from $112.00 to $99.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Wells Fargo & Company dropped their target price on shares of Seagate Technology from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 16th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $120.00 price target on shares of Seagate Technology in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $122.56.

Seagate Technology Trading Up 1.4 %

Shares of STX stock traded up $1.38 during trading on Wednesday, hitting $99.21. The company's stock had a trading volume of 3,385,235 shares, compared to its average volume of 3,401,049. The company has a market cap of $21.00 billion, a PE ratio of 18.14 and a beta of 1.07. The business has a fifty day moving average of $94.44 and a 200-day moving average of $99.63. Seagate Technology Holdings plc has a 52 week low of $82.31 and a 52 week high of $115.32.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Wednesday, March 19th. Seagate Technology's dividend payout ratio is currently 52.65%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the transaction, the director now owns 6,555 shares of the company's stock, valued at $667,430.10. The trade was a 10.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the completion of the sale, the chief executive officer now directly owns 622,497 shares in the company, valued at approximately $64,011,366.51. The trade was a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,891 shares of company stock valued at $2,146,848 over the last three months. 0.81% of the stock is currently owned by insiders.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.